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Saturday, 15 August 2015

Nifty analysis for 14 Aug 2015 and forecast for 17 Aug 2015 - 14 Aug 2015

Hi,

In our forecast report we mentioned about 14th Aug being the bullish date, and Nifty zoomed 160 points on last trading day nullifying Chinese Yuan Devaluation. Now that it has completely covered its losses after china news, how it will behave looks interesting. BANKS which are under buying pressure since start of the series zoomed 4% on an average. Turnover remained sluggish with FII and DII both remaining net buyers.

Nifty is constantly making lower highs since its all time high of 9100 made in March 2015. Now markets are moving sideways. With 8600 failing two times, all eyes are on for 8600. 

We are expecting Nifty to remain in the range of 8575 - 8500 in the start of the week. And lot more would depend upon how global factors unfold themselves.

Traders are advised to consider short positions near 8600.

Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com